Nifty opened with a small gap down of 12 points and was sideways for most of the first half of trading session. The better than expected HSBC PMI was non event. However the heavy selling in the European markets led to market downturn. From technical point of view the market is taking resistance at the 78.6% retracement of the fall from 6355-5953. The hourly chart shows that for past two trading sessions the market had been consolidating in tight range. The nifty broke this range to take support at 6220. As long as this support holds the market is expected to go up and might test the previous high of 6355. The huge OI build up in 6200PE is a clear indication of the support present.
The support for nifty is at 6200-6176-6130 and the resistance lies at 6261-6290-6355.
Nifty March Future has been trading at 18-19 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 11.98
and for puts were at 16. India VIX closed at 15.28. PCR for Nifty based on
open interest was at 1.22 and PCR for the day based on volumes was at 1.13 for
the market.
CASH MARKET:
FII 2524.18 - 2325.65 = 198.53 Cr.
DII 2717.47 - 1151.16 = 1566.31 Cr..
FII DERIVATIVES MARKET:
| IN CR. | BUY | SELL | NET |
| INDEX FUTURES | 1144.32 | 1458.72 | -314.40 |
| INDEX OPTIONS | 8033.05 | 7522.20 | 510.86 |
| STOCK FUTURES | 2512.83 | 2357.10 | 155.74 |
| STOCK OPTIONS | 1147.82 | 1104.70 | 43.12 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 4-Mar-14 | Power Grid Corporation of India Limited | Interim Dividend Rs.1.27 Per Share(Purpose Revised) |
STOCKS IN NEWS:**
Maruti Suzuki India Ltd: Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
SAIL: State-run SAIL said its sales grew by seven per cent in February to 1.04 million tonnes on higher off-take from domestic and export markets.
Hero MotoCorp Ltd: The country's largest two-wheeler maker Hero MotoCorp reported a marginal increase in total sales at 5,04,181 units for February. It had sold 5,01,271 units in the same month last year, Hero MotoCorp said in a statement.
Ashok Leyland Ltd: Hnduja Group flagship company Ashok Leyland has reported a 21.2 per cent decline in its total sales in February at 7,915 units. The city-headquartered company had sold 10,046 units during the same month of previous year, Ashok Leyland said in a statement.
Bajaj Auto Ltd: Auto maker Bajaj Auto today reported a 6 per cent decline in motorcycle sales at 2,73,323 units in February. The company had sold 2,91,297 bikes in February last year, Bajaj Auto Ltd said in a release here.
Mcleod Russel India Ltd: The tea major announced the acquisition of a tea processing factory in Vietnam for over Rs 5 crore. Mcleod Russel is the world's largest tea producer. It produces about 100 million kgs of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda.
HCC Ltd: Hindustan Construction Company (HCC) has bagged A Rs 903.83 crore order in joint venture with GVPR Engineers Ltd from Karnataka Neeravari Nigam Ltd. In a statement issued today, the company said the contract is for diversion of flood water from Sakleshpura (West) to Kolar/Chikkaballapur (East) under Yettinahole diversion project package-4.
Reliance Industries Ltd: The Comptroller & Auditor General has asked the government to explain why it did nothing more than writing letters to Reliance Industries when it thought the company had deliberately suppressed production from KG-D6, but the national auditor accepted that the contractual regime had many deficiencies that made it difficult for the ministry to take action.
SBI: State Bank of India (SBI) is taking initiatives to reduce bad loans which have reached 5.73 per cent, SBI Managing Director and Group Executive (National Banking), A Krishnakumar has said. All zones have been directed to tighten the recovery of debts and reduce non-performing assets (NPAs), or bad loans, substantially, he said.
Natco Pharma Ltd: In what will bring temporary relief for Hyderabad-based Natco Pharma, the Delhi High Court on Friday dismissed a complaint filed by Israel-based Teva Pharma seeking an injunction against Natco's "manufacturing, selling, offering for sale, export or registering" of Copaxone (glatiramer acetate). The drug is used for treating multiple sclerosis, said media reports.
SAIL: State-run SAIL said its sales grew by seven per cent in February to 1.04 million tonnes on higher off-take from domestic and export markets.
Hero MotoCorp Ltd: The country's largest two-wheeler maker Hero MotoCorp reported a marginal increase in total sales at 5,04,181 units for February. It had sold 5,01,271 units in the same month last year, Hero MotoCorp said in a statement.
Ashok Leyland Ltd: Hnduja Group flagship company Ashok Leyland has reported a 21.2 per cent decline in its total sales in February at 7,915 units. The city-headquartered company had sold 10,046 units during the same month of previous year, Ashok Leyland said in a statement.
Bajaj Auto Ltd: Auto maker Bajaj Auto today reported a 6 per cent decline in motorcycle sales at 2,73,323 units in February. The company had sold 2,91,297 bikes in February last year, Bajaj Auto Ltd said in a release here.
Mcleod Russel India Ltd: The tea major announced the acquisition of a tea processing factory in Vietnam for over Rs 5 crore. Mcleod Russel is the world's largest tea producer. It produces about 100 million kgs of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda.
HCC Ltd: Hindustan Construction Company (HCC) has bagged A Rs 903.83 crore order in joint venture with GVPR Engineers Ltd from Karnataka Neeravari Nigam Ltd. In a statement issued today, the company said the contract is for diversion of flood water from Sakleshpura (West) to Kolar/Chikkaballapur (East) under Yettinahole diversion project package-4.
Reliance Industries Ltd: The Comptroller & Auditor General has asked the government to explain why it did nothing more than writing letters to Reliance Industries when it thought the company had deliberately suppressed production from KG-D6, but the national auditor accepted that the contractual regime had many deficiencies that made it difficult for the ministry to take action.
SBI: State Bank of India (SBI) is taking initiatives to reduce bad loans which have reached 5.73 per cent, SBI Managing Director and Group Executive (National Banking), A Krishnakumar has said. All zones have been directed to tighten the recovery of debts and reduce non-performing assets (NPAs), or bad loans, substantially, he said.
Natco Pharma Ltd: In what will bring temporary relief for Hyderabad-based Natco Pharma, the Delhi High Court on Friday dismissed a complaint filed by Israel-based Teva Pharma seeking an injunction against Natco's "manufacturing, selling, offering for sale, export or registering" of Copaxone (glatiramer acetate). The drug is used for treating multiple sclerosis, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
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